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Listed price in listed location currency (USD).
$319,900

060

MLS® 20261029620

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 3691 sqft
Garage 
Taxes $5,089
Days Active 4
Lot Size 
Approx. Age 1957
Avg. Price Per Sqft $86
MLS® Number 20261029620

Property Address: 248 Richter St, River Rouge, MI, 48218-1644

Average square foot calculated using Size range provided by listing agent.

Description

Rare opportunity to own a fully occupied 6-unit multifamily investment property in the heart of River Rouge, conveniently located near Belanger Park and the Detroit Riverfront. This unique ranch-style, single-story apartment building offers a highly desirable layout with no upper or lower units — a major advantage for both tenants and investors due to ease of maintenance, accessibility, and strong long-term rental appeal. The property features four spacious 2-bedroom units and two 1-bedroom units, each with its own private bathroom. All six units are occupied and generating approximately $55, 200 annually in gross rental income with an estimated net operating income of approximately $43, 000 per year. Tenants are responsible for their own gas and electric utilities, helping keep owner expenses lower and improving overall investment performance. For investors analyzing returns, the numbers make sense and offer an attractive cap rate opportunity depending on financing structure and purchase price. Situated on a prominent corner lot, the property also includes on-site parking. This is an excellent opportunity for investors seeking immediate cash flow, stable occupancy, and a low-maintenance multifamily asset with upside potential. Please do not disturb tenants. Property is being sold as-is. Buyer to verify all information and measurements.
MLS® Number20261029620
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1957
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 29, 2026List Date
$319,900List Price
  • Commute

Commute

Starting Address
Destination Address
248 Richter St, River Rouge, MI

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